The Argentine trade balance recorded a surplus of 3.504 million dollars in May, the highest value in the historical series for that month, according to the report from the Argentine Trade Exchange (ICA) published by INDEC. The result was accompanied by a record in exports, which reached USD 9,537 million.
After the release of the official data, the Minister of Economy, Luis "Toto" Caputo, highlighted the performance through his social media: “In May, goods exports and the trade balance recorded a new historical record.”
The positive balance also marks the thirtieth consecutive month with a trade surplus, thanks to the successful economic program of the Government of Javier Milei.
The message from Luis Caputo
In the accumulated data for the first five months of the year, the balance shows a favorable result of USD 11,783 million, consolidating a sustained trend in foreign trade.
"Thus, the Argentine Trade Exchange of goods (exports plus imports) totaled USD 15,570 million, a 14.6% increase compared to May 2025", reported the Ministry of Economy. This growth reflects an expansion in the total volume operated, mainly driven by external sales.
However, the result is also supported by a contraction in imports. Year-on-year, purchases from abroad fell by 7%, while in May the reduction was 2.5%. This behavior contributes to expanding the surplus.
Regarding the main trading partners of the country during May, China ranked first, followed by Brazil, United States, Paraguay, Chile, and India, according to the official data released by the statistical agency.
Argentine trade in goods
The accumulated performance of the year shows strong growth in exports, which totaled USD 40,359 million between January and May, representing a 24.3% increase compared to the same period in 2025. In contrast, imports amounted to USD 28,575 million, with a year-on-year decline of 6.6%.
The report also specified that “the trade exchange increased by 9.3% compared to the same period last year, reaching an amount of USD 68,934 million,” consolidating a scenario of global expansion.
The sectors
By sectors, the growth of exports was widespread. The year-on-year increase of 167.1% in Fuels and Energy was particularly notable, followed by a rise of 22.5% in Primary Products.
Agricultural Origin Manufactures recorded an increase of 20.5%, while Industrial Origin Manufactures grew by 20.1% and reached USD 10,964 million, the highest historical value for the January-May period.
Regarding energy performance, Caputo also emphasized that the trade balance of the sector reached its highest historical monthly surplus, with USD 1,543 million. This result is explained both by the increase in exports and by a sharp decline of 32.9% in imports within that sector.
